Yes, 8mm mauser is pretty much equivalent to the 30-06 or any of the other world war 1 and 2 class cartriges.

It will work just fine on anything except not the best choice for lion, hippo, rhino, elephant, giraffe, and buffalo, and whatever that huge antelope is.

For anything zebra or wildabeast aka gnu sized, or smaller, it will be just great.

Come out clean Rhino. Any African Safari Outfitter can educate you in this area, even without you asking. So, I suspect that you read about this "Safari thing" in a magazine or catalog and are just day dreaming. Someone contemplating this kind of trip is pretty clear on the guns and ammo necessary for this type of endeavor. Just for you, and anyone else reading, to know: Yes there are some kind of game you can hunt with a "sported out 98K, in 8mm caliber".

You bet it will.* No problem with the proper shot placement.* Always aim for the heart and lung area.*

I am hoping your K98 has a good enough barrel to justify your confidence in it. Many are corroded from the corrosive ammo cheaply available for them. If the barrel won't group tightly, and needs replacing, your boltface matches up to all the 30-06 family and 308 family of cartridges, for an enormous selection, all of which will work through your action! The 308 family will require opening up the rails at the front a bit, for smooth chambering, but that is easy. The 30-06 was designed to take full advantage of the "standard" K98 action length. Exactly why the 8mm wasn't made a bit longer, is a matter for speculation. Look at a good reloading manual, and see all the choices which have the same "Mauser" case head dimensions. For Africa, the 35 Whelen (a 30-06 opened up to 35 Calibre) is interesting, if you are willing to handload for it! Regards, Larry.